As a veteran in the cryptocurrency space, I have been deeply involved in this captivating and challenging industry for many years. Having experienced the ups and downs of the crypto market and witnessed the rise and fall of countless cryptocurrencies, I have accumulated rich practical experience and unique market insights. Investing is a long-term practice, and this is especially true in the cryptocurrency space. Continuous learning and improving one's cognitive and judgment abilities are essential to navigate this challenging field steadily.

Old Yang from the Crypto Circle: Bitcoin Market Analysis on November 20, 2024

Bitcoin's daily chart has broken upward, with the EMA15 fast line support at 85700 and the upward momentum still strong, while all trend indicators are moving upward. However, there is a top divergence in MACD, DI and DEA are diverging at high levels, and the Bollinger Bands are opening up, with the upper band at 99500 and the middle band at 81255, indicating that the market is in the overbought zone. Given this, chasing long positions during divergence carries significant risks. Cautious investors should remain observant, hold onto their positions, and remember that the first rule of trading is survival.

Bitcoin's four-hour K-line has strongly broken upward to create new highs, with indicators suggesting enticing space above and bullish momentum that is unstoppable. However, the intentions of the main players are difficult to gauge, making it hard to discern the authenticity of the market. We need to wait for clearer trends. Currently, MACD is showing strong volume, with DIF and DEA golden crossing above the 0 axis, and the Bollinger Bands are opening due to new highs. The K-line has broken through the upper band at 93000, with the middle band support at 91000, and KDJ is diverging upward, indicating that the market has entered the overbought area. The main players may take profits at any time, and retail investors should not impulsively take over; preserving capital should be the priority.

Short-term Strategy:

Short from 93900 to 94500, add to position at 95200, stop loss at 500 points, target at 90500.

Long from 90000 to 89400, add to position at 89000, stop loss at 500 points, target at 92500.

Disclaimer: The above analysis represents the author's personal views and does not constitute specific operational advice. Trading based on this analysis is at your own risk; investing carries risks, and caution is advised when entering the market.

This article is exclusively planned and published by Old Yang from the Crypto Circle. For more real-time investment strategies, spot contract trading techniques, and operational skills, you can consult me for learning and exchange. I have focused on BTC, ETH, and altcoin spot contracts for many years and hope to help you achieve remarkable results!

Friendly Reminder: The above content is solely created by the author of the public account. The advertisements at the end of the article and in the comments section are unrelated to the author. Please discern carefully, and thank you for reading.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。